Speaking at the 76th annual Shareholders report, Tata Motors chairman N Chandrasekaran said that the company looks forward to adding 10 Battery Electric Vehicles to its portfolio by 2025 and they will be working aggressively in this direction. “In India, EV penetration in our portfolio has now doubled to 2 per cent this year and we expect the penetration to increase exponentially in the coming years. Tata Motors will lead this change in the Indian market. By 2025, Tata Motors will have 10 new BEV vehicles,” he added.
In India, Tata Motors is also the largest Electric Vehicle Manufacturer and has plans to invest in lithium-ion cell manufacturing in India and Europe in order to establish a proper supply chain for its zero-emission vehicles in the coming decade.
This comes at a time when the government is nudging automobile makers to develop and manufacture EVs to reduce carbon footprint and has brought out policies offering incentives to buyers opting for such vehicles.
In the FY22 Budget, the government announced that it will lower the GST on EVs to 5 per cent from 12 per cent also offer income-tax incentives to individuals purchasing EVs.
As of today, Tata Motors has only 2 EVs in the market which is Nexon EV and Tigor EV and is soon going to launch an electric version of Altroz.